0xScope Newsletter #67: 2024 CEX Listings - Pump or Dump?
Also: We study the impact of ETF net flows on Bitcoin's price, highlight the latest CEX asset changes and token unlocks, and more.
2024 CEX Listings: Pump or Dump?
We checked 200+ tokens that were listed on major exchanges this year to see if they're still thriving since their listings. Here's what we found:
🪂 Bybit's aggressive listing strategy greatly increased its trading volume this year, while its users end up being exposed to tokens that either end up growing beyond 100% or declining by above 75%
📉 About 87% of Binance spot listings are currently trading below their open price, and the rest are mostly meme coins that start from a small initial market cap.
🤡 Memecoins are the best-performing category among newly-listed tokens this year. About 45% of memecoin listings bring positive ROI for CEX users, while 96% of infrastructure-related listings (Layer 1/2, etc.) are still struggling to return to their listing prices.
Learn about these findings and more in our latest report.
How ETF Net Flows Impact Bitcoin Price
Bitcoin recently achieved a new all-time high of $75,000, while crypto-friendly Republican candidate Donald Trump won the U.S. election. But before this recent boom, the approval of ETFs in January 2024 was previously responsible for Bitcoin's gradual surge from $38,000 to $73,000 earlier this year.
However, since April 2024, despite continued inflows into ETFs, Bitcoin's price has not reached new highs. This raises the question: what has been the impact of ETF inflows on Bitcoin's price since April?
Read this article for more details.
On-chain Data
As BTC hits new ATH, exchange assets grow by $7.6B
Bitcoin is on a historic week. Fueled by global events and unprecedented bullishness, BTC reached a new record high at almost $77,000, with barely any sign of stopping. Major exchanges boosted their net assets by $7.6B thanks to this market momentum, with all exchanges seeing growth across the board. The top growth percentages go to Kraken (10.47%) and Binance US (9.99%).
Upcoming token unlocks for $XAI, $CYBER
This coming week, get ready for the unlocking of $7.54M worth of $XAI tokens on November 9, followed by the $2.84M unlocking of $CYBER tokens on November 13.
If you're a supporter of these tokens, please be mindful of potential price fluctuations in the days to come, and follow the 0xScope Twitter account for more information.
Company Announcements
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Subscribe to Scopechat Pro today! Pay using your credit card, Scopepoints, or crypto (we support Ethereum, Arbitrum, Base, and Optimism networks).
Be the Next 0xScope Ambassador!
0xScope is looking for talent! Passionate about growing your community and showcasing your investigation skills? Become a 0xScope Ambassador, lead the charge, and get a chance to be featured here! If you think you are a good fit or know somebody who is, please reach out at hr@0xscope.com.
Quick Bites
BTC price sets fresh all-time high near $77K amid 'long squeeze' fears - LINK
Bitcoin ETFs see record $1.3B inflows on Trump win, Fed rate cuts- LINK
Fed cuts rates by 25 basis points, Bitcoin price at record as Powell says Trump win has 'no effect' on policy - LINK
Ethereum Foundation reports crypto holdings of $788M, tightens conflict of interest policy for staff members - LINK
Solana climbs above $200, Bitcoin hits new high amid extended post-election rally - LINK
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